Herbert L. Kloiber, Son of Bavarian Mogul, Takes Number 2 Job at Tele-Munchen Group

Kloiber replaces Dirk Schweizer as managing director of the German rights giant, positioning him to eventually succeed his father.

COLOGNE, Germany - Herbert L. Kloiber, the son of German media mogul Herbert G. Kloiber, has replaced Dirk Schweitzer as managing director of Tele-Munchen Group (TMG)

Schweizer, who joined TMG two years ago from German broadcaster RTL, is leaving the company for personal reasons. He will be returning to Cologne, where his family lives.

The move positions the younger Kloiber to eventually succeed his father, who turns 65 this year.

"Regrettably I am losing Dr. Dirk Schweitzer after only 2 years of successful collaboration to his home town of Cologne," TMG head Herbert G. Kloiber said in a statement. "There is however no better point in time and finer moment in Tele Munchen’s 42-year history to now call the well prepared next generation to the bridge."

As managing director, the younger Kloiber will effectively be TMG's number two, heading up the group's licensing business as well as home entertainment, merchandising, video-on-demand and international program sales. He previously worked at London-based VOD operation the Ondemand Group in London - TMG holds a 50 percent stake in the group's German subsidiary, Ondemand Deutschland. Herbert L. Kloiber also previously ran the international business development unit of Bruno Wu's Sun Media Investment Holding.

“After many instructive years in the international media industry I am delighted to contribute my experience, specifically of the digital markets as a member of the senior management team in order to continue and influence TMG’s outstanding growth story going forward," added Herbert L. Kloiber.

The Tele-Munchen Group is one of Europe's largest independent media groups, with holdings that include stakes in German-language broadcasters RTL 2, Tele-5 and Austria's ATV; the film distributor Concorde - the German distributors of the Twilight franchise - and Germany's largest rights licensing business. TMG last year had revenues of more than $385 million (€300 million) last year and booked a net profit of some $82 million (€64 million).